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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Gold futures poised to climb as Fed adjourns two-day meeting

Apr 25, 2012 11:22 AM

The second straight day of gains for gold futures is likely to occur on Wednesday, Bloomberg reports.

While signals indicate the U.S. economy is growing stronger, the commerce department indicated new home sales last month in the nation amounted to 328,000, which exceeded the 319,000 forecast by a Bloomberg survey. But, with the U.S. Federal Reserve set to adjourn two days of meetings on Wednesday, focus is sharpening on whether the institution led by Ben Bernanke will purchase more assets, also known as quantitative easing.

"Today of all days we can't avoid talking about quantitative easing," analyst Nic Brown with Natixis told Reuters on Wednesday. "I wouldn't be surprised to see gold trading a fair bit lower tomorrow if the Fed gives no hints about imminent QE."

At 11:08 a.m. on Wednesday, gold futures fell 0.32 percent, a $5.30 slip to $1,638.50 per troy ounce.

Acquisitions of the yellowish metal in India, which China displaced earlier this year as top consumer of bullion, have been light for a Hindu festival that typically commands more purchasing, according to Reuters.

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